Inrix seeks to acquire ITIS Holdings

Inrix, the international provider of real-time traffic information and connected driving services, has made an offer to acquire ITIS Holdings for US$59 million.
January 27, 2012 Read time: 1 min

163 Inrix, the international provider of real-time traffic information and connected driving services, has made an offer to acquire 745 ITIS Holdings for US$59 million.

Inrix says the proposed acquisition, which will significantly expand its business into Australia, Brazil, South Africa, Singapore and Russia, with enhanced coverage in the UK, would grow its business exponentially in several areas. “Automakers, mobile companies and other customers are increasingly demanding global traffic and connected driving solutions,” said Bryan Mistele, president and CEO of Inrix. “ITIS is a strategic investment that expands our geographic reach, technical expertise and suite of market-leading technologies to offer customers the best traffic information, more cost-effectively and in more markets.”

Pending approval by ITIS shareholders, the deal is expected to close in late August 2011.

UTC

Related Content

  • November 17, 2014
    Jenoptik acquires leading UK enforcement technology company
    Jenoptik has acquired a 92 per cent share in UK company Vysionics, in a deal which reflects the strategy of the Group to invest specifically in global growth markets. The deal will enable Jenoptik, whose section control technology is already used successfully in Austria, Switzerland and Kuwait, to leverage Vysionics’ expertise in automatic number plate recognition (ANPR) and section control for international markets. In the UK, where section control is also widely used on construction sites in order to p
    Read More
  • January 22, 2021
    Verra Mobility to buy Redflex for $113m
    Deal is set to go through in May and will create 'enhanced global reach', says Verra
    Read More
  • January 31, 2013
    Jenoptik expands Asia-Pacific business
    German optoelectronics group Jenoptik is expanding its business in the Asia-Pacific region with the acquisition of 100 per cent of Australian company DCD Systems, a provider of traffic safety technology based in Sydney and Melbourne. DCD was previously the sales and service partner for the Jenoptik Traffic Solutions division in Australia; Jenoptik has maintained a close working relationship with the company for more than 10 years. Within the framework of the acquisition DCD Systems will be integrated into t
    Read More
  • April 2, 2014
    Parsons acquires Delcan
    US-based transportation planning, engineering, and construction company Parsons has expanded its global transportation operations with the acquisition Delcan, an international multidisciplinary engineering, planning, management, and technology firm that provides a broad range of integrated systems and infrastructure solutions to the transportation market. Delcan is a strategic addition to Parsons and signals the firm’s intent to expand its geographic footprint in transportation, one of the corporation’
    Read More

Highlighted Content